Financial Performance - Pre-tax net investment income for the quarter ended March 31, 2024, was $0.68 per share, exceeding the regular dividend of $0.57 per share and supplemental dividend of $0.06 per share[6] - Total investment income for the quarter ended March 31, 2024, was $178.135 million, a 49.3% increase from $119.300 million in the same quarter of 2023[21] - Net investment income for the quarter was $110.005 million, up 60.0% from $68.711 million year-over-year[21] - Total pre-tax net investment income for the year was $110.9 million, up from $69.0 million in the prior year, representing a 60.3% increase[40] - The net increase in net assets from operations of $83.389 million, significantly higher than $33.093 million in the prior year[21] Investment Portfolio - Total investment portfolio reached $1.5 billion, with $154.6 million in new committed credit investments and $2.9 million in new equity co-investments during the quarter[3] - The total investment portfolio increased by $270.2 million, from $1.2 billion to $1.5 billion, reflecting a growth of 22.4% during the year[51] - The credit portfolio had a weighted average yield on debt investments of 13.3%[1] - Current non-accruals amounted to $33.8 million, representing 2.3% of the total investment portfolio[4] - The company originated $157.5 million in new commitments during the quarter, consisting of investments in six new portfolio companies totaling $126.3 million[52] Dividends - Total dividends declared for the June 30, 2024 quarter are $0.63 per share, consisting of a regular dividend of $0.57 and a supplemental dividend of $0.06[6] - Regular dividend declared for the quarter ended June 30, 2024, is $0.57 per share, with a supplemental dividend of $0.06 per share[24] - The company declared a total dividend of $0.63 per share for the quarter ended June 30, 2024, which includes a Regular Dividend of $0.57 and a Supplemental Dividend of $0.06[45] Assets and Liabilities - The company's net asset value (NAV) per share increased to $16.77 as of March 31, 2024, up from $16.37 a year earlier[9] - Total assets as of March 31, 2024, were $1.556 billion, an increase from $1.258 billion in the previous year[29] - Total liabilities increased to $801.082 million from $667.276 million year-over-year[29] - Cash and cash equivalents stood at $32.3 million, with total net assets of $755.7 million[5] - As of March 31, 2024, Capital Southwest had approximately $32.3 million in unrestricted cash and money market balances and a total debt outstanding of $265.0 million on the Corporate Credit Facility[44] Operating Expenses - Total operating expenses increased to $67.186 million, compared to $50.260 million in the same quarter of the previous year, reflecting a 33.7% rise[21] - Interest expense for the year ended March 31, 2024, was $43.1 million, compared to $28.9 million in the prior year, marking a 49.5% increase[62] Equity and Financing - The company raised $184.2 million through the Equity ATM Program, selling 8,733,315 shares at a weighted-average price of $21.09 per share[13] - The company has $121.1 million available under the Equity ATM Program as of March 31, 2024[13] - The company has an "at-the-market" offering program with an aggregate offering price of up to $650 million[22] - The company sold 2,069,620 shares of its common stock under the Equity ATM Program during the quarter[22] Quarterly Comparisons - For the quarter ended March 31, 2024, total investment income was $46.4 million, down from $48.6 million in the prior quarter[55] - The net increase in net assets resulting from operations for the quarter was $13.5 million, down from $23.5 million in the prior quarter[58] - The company's NAV at March 31, 2024, remained flat at $16.77 per share compared to the prior quarter[59]

DALLAS, May 14, 2024 (GLOBE NEWSWIRE) -- Capital Southwest Corporation ("Capital Southwest," "CSWC" or the "Company") (NASDAQ:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced its financial results for the fourth fiscal quarter and fiscal year ended March 31, 2024. Fourth Quarter Fiscal Year 2024 Financial Highlights Fiscal Year 2024 Financial Highlights In commenting ...

DALLAS, May 07, 2024 (GLOBE NEWSWIRE) -- Capital Southwest Corporation ("Capital Southwest") (NASDAQ:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that its Board of Directors has approved the promotion of Josh Weinstein to Senior Managing Director and Chief Investment Officer and Chris Rehberger to Executive Vice President and Treasurer, effective immediately. Bowe ...

DALLAS, April 24, 2024 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (("Capital Southwest" or the "Company", NASDAQ:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it will release its fourth quarter and fiscal year 2024 results on Tuesday, May 14, 2024, after the market closes. In conjunction with the release, Capital Southwest has scheduled a live webcast o ...

Vivek Vishwakarma Now's a great time to be an income investor, as when the market is pre-occupied with chasing growth, investors can pick off +9% yields with ease. Such is the case with BDCs at this time, and this brings me to Capital Southwest (NASDAQ:CSWC), which I last covered in early January, highlighting its strong capital appreciation potential and low fee structure. While the stock has stayed virtually flat since when I last visited it, it continues to churn out well-covered dividends, giving in ...

DALLAS, April 02, 2024 (GLOBE NEWSWIRE) --  Capital Southwest Corporation ("Capital Southwest," or the "Company") (NASDAQ:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced that Moody's Investors Service, Inc. ("Moody's") has affirmed Capital Southwest's investment grade long-term issuer rating of Baa3 with a stable outlook.   Factors cited by Moody's in support of its ...

J Studios/DigitalVision via Getty Images Overview I've become a big believer in BDCs (business development companies) because of the strong dividend cash flow they can provide. Capital Southwest (NASDAQ:CSWC) has been one of my strongest BDC holdings and has consistently provided me with a growing stream of income. As a bonus, the price of CSWC has also grown by nearly 130% over the last decade. The current dividend yield is 9.5% and while lower than some BDC peers like Ares Capital (ARCC), TriplePoint ...

DALLAS, March 20, 2024 (GLOBE NEWSWIRE) -- Capital Southwest Corporation ("Capital Southwest" or "we"") (NASDAQ:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that its wholly owned subsidiary, Capital Southwest SPV LLC (the "SPV"), entered into a senior secured revolving credit facility (the "SPV Facility") with Deutsche Bank AG, New York Branch. The SPV Facility pr ...

SlavkoSereda/iStock via Getty Images Capital Southwest (NASDAQ:CSWC) is a mid-sized business development company, or BDC, with a NAV base of ~ $720 million and a market cap of roughly $1 billion, which indicates a notable premium above the underlying value. If we look at the investment strategy of CSWC and the corresponding investment criteria, we will notice the same standards that are in place for most BDCs, except the ones that focus on VC-type businesses. Here is a non-exhaustive set of investment c ...

Darren415 Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company ("BDC") sector from both the bottom-up - highlighting individual news and events - as well as the top-down - providing an overview of the broader market. We also try to add some historical context as well as relevant themes that look to be driving the market or that investors ought to be mindful of. This update covers the period through the third week of February. Ma ...